Educators Credit Union
- Assets
- $3.2b
- Revenue
- $221.5m
- Investments
- $15.1m
- Employees
- 652
- Location
- Mt Pleasant, WI
- Founding
- Data as of
- 12/2023
- EIN
- 39-0555293
Organization Overview
Educators Credit Union is located in Mt Pleasant, WI. As of 12/2023, Educators Credit Union employed 652 individuals. Educators Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2023, Educators Credit Union generated $221.5m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 13.0% each year . All expenses for the organization totaled $177.5m during the year ending 12/2023. While expenses have increased by 12.7% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Educators Credit Union has awarded 136 individual grants totaling $2,681,947. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PASSIONATELY HELP PEOPLE BY EDUCATING AND ADVISING TO EARN THEIR LOYALTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATORS CREDIT UNION PROVIDES BUSINESS AND CONSUMER LOANS AND LEASES. CURRENT LOAN PORTFOLIO IS OVER $2.2 BILLION. EDUCATORS OFFERS EDUCATIONAL SEMINARS TO HELP INFORM ITS MEMBERSHIP AND TOOLS TO HELP MAKE LARGE PURCHASES, SUCH AS HOME AND AUTOS. EDUCATORS CREDIT UNION ALSO HAS MANY FINANCIAL TOOLS TO HELP MEMBERS BUILD AND IMPROVE THEIR CREDIT SCORE TO ENSURE THEY GET THE LOWEST RATE POSSIBLE ON THEIR LOANS FOR YEARS TO COME.
EDUCATORS CREDIT UNION PROVIDES VERY COMPETITIVE RATES ON SAVING, CHECKING, CDS, IRAS, AND MONEY MARKET ACCOUNTS WITH BALANCES OVER $2.8 BILLION. EDUCATORS THE CREDIT UNION GAVE BACK OVER $5.1 MILLION DOLLARS BACK TO OUR LOYAL MEMBERS THROUGH OUR MEMBER LOYALTY PROGRAM. WE ALSO HAVE GREAT BENEFITS FOR OUR MEMBERS LIKE MIND & MONEY, FINANCIAL WELLNESS TOOLS, AND FRAUD AND THEFT PROTECTION. EDUCATORS CREDIT UNION ALSO HAS A TEAM IN INVESTMENT SERVICES TO ENSURE FINANCIAL WELLNESS FOR FUTURE GENERATIONS.
WE HAVE OVER 230,000 MEMBERS AND FOCUS ON EDUCATING THEM IN OUR BRANCHES AS WELL AS THROUGH COMMUNITY ACTIVITIES. EDUCATORS GAVE BACK MORE THAN $740,000 BACK TO THE COMMUNITIES IN WHICH WE SERVE. EDUCATORS CREDIT UNION ALSO AWARDED A TOTAL OF $70,000 TO 35 SCHOOL STUDENTS TO HELP OFFSET THE COST OF HIGHER EDUCATION. TO HELP ENSURE THE SECURITY OF OUR COMMUNITIES' INFORMATION, EDUCATORS CREDIT UNION OFFERS MULTIPLE SHRED DAYS THROUGHOUT OUR COMMUNITIES FREE OF CHARGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Lueneburg Chairperson | OfficerTrustee | 1 | $3,250 |
Cheryl Kothe Vice Chairperson | OfficerTrustee | 1 | $2,050 |
Brad Zautcke Treasurer | OfficerTrustee | 1 | $2,000 |
Milton Dockery Secretary | OfficerTrustee | 1 | $850 |
Clarence Allen Board Member | Trustee | 1 | $1,350 |
Sarah Fierek Board Member | Trustee | 1 | $1,250 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Alkami Technology Inc Online Banking Provider | 12/30/23 | $4,028,251 |
Nusource Financial Itm Service Provider | 12/30/23 | $3,175,311 |
Fiserv Card Processor | 12/30/23 | $1,606,569 |
Iementor Corp It Consultant/contractor | 12/30/23 | $1,139,939 |
Edge One Inc Atm/itm Service Provider | 12/30/23 | $1,513,410 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $156,559,607 |
| Investment income | $50,081,473 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$101,224 |
| Net Gain/Loss on Asset Sales | $11,790,032 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $92,449 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $221,505,827 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $744,615 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,543,531 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $32,961,753 |
| Pension plan accruals and contributions | $3,650,477 |
| Other employee benefits | $4,408,595 |
| Payroll taxes | $2,600,014 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $122,756 |
| Fees for services: Accounting | $362,607 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,240,175 |
| Advertising and promotion | $2,971,368 |
| Office expenses | $3,903,523 |
| Information technology | $13,239,471 |
| Royalties | $0 |
| Occupancy | $4,152,197 |
| Travel | $148,376 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,430,273 |
| Interest | $23,557,576 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,734,976 |
| Insurance | $432,754 |
| All other expenses | $5,295,574 |
| Total functional expenses | $177,468,893 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $42,247,113 |
| Savings and temporary cash investments | $101,646,585 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,131,627 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,224,569,392 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,296,764 |
| Net Land, buildings, and equipment | $51,320,180 |
| Investments—publicly traded securities | $668,747,480 |
| Investments—other securities | $15,145,539 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $73,660,292 |
| Total assets | $3,193,764,972 |
| Accounts payable and accrued expenses | $49,019,801 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $2,834,764 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,347,429 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,816,104,417 |
| Total liabilities | $2,870,306,411 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $323,458,561 |
| Total liabilities and net assets/fund balances | $3,193,764,972 |
Grants Awarded
Over the last fiscal year, Educators Credit Union has awarded $224,759 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
JUNIOR ACHIEVEMENT PURPOSE: GENERAL SUPPORT | $65,000 |
MILWAUKEE PUBLIC SCHOOLS FOUNDATION PURPOSE: GENERAL SUPPORT | $30,000 |
UNITED WAY OF RACINE COUNTY PURPOSE: GENERAL SUPPORT | $63,259 |
HOUSING RESOURCES INC PURPOSE: GENERAL SUPPORT | $15,000 |
ROC FOUNDATION INC PURPOSE: GENERAL SUPPORT | $14,500 |
PROHEALTH CARE PURPOSE: GENERAL SUPPORT | $13,000 |